HSINCHU, TAIWAN: ChipMOS Technologies Ltd announced that ChipMOS Technologies Inc., a 91 percent owned subsidiary of ChipMOS, has entered into a settlement agreement with Spansion LLC for its general unsecured claim on breach of contract and liquidated damages rights reflected in the proof of claim, Claim No. 5, against Spansion Inc., Spansion Technology LLC, Spansion LLC, Spansion International Inc. and Cerium Laboratories LLC filed by ChipMOS Taiwan in United States Bankruptcy Court.
Under the Agreement, the total amount of recognized damage on breach of contract and liquidated damages rights was US$135 million.
Based on the Company's earlier disclosed information about this transaction on its January 14 and 26, 2010 press releases, ChipMOS Taiwan will be receiving approximately US$68 million from the above arrangement.
Thursday, October 7, 2010
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